In early 2013, the Depósito Central de Valores  (DCV) –in its constant preoccupation to provide a service infrastructure with the highest levels of security and quality -, began to work with Omgeo Central Trade Manager (Omgeo CTM) on a service that will allow local brokers to have access on trade date to information about the end investor. This development is called “Broker-Broker Solution” and its launch is planned for the first quarter of 2014, said the Head of the Commercial Department, Juan Carlos Melys.
 
“This initiative, on which we are working jointly with Omgeo, arose from the need of the Chilean brokers themselves. In many conversations with potential customers, there emerged the concern of having a similar solution but which would allow them to cover the largest percentage of their business transactions with foreign clients related to global brokers, and the solution on which we are working is especially targeted to this segment,” explained Melys.

He also added that “the current service has enabled local brokers to improve the process of communication, matching and confirmation with their foreign customers (end investors). Now, with this new functionality, they are able to have more information in a timely manner on transactions from local brokers and thus have access to all online information about who the end investor is for billing, settlement and carrying out all necessary transactions.”

The difference with the new system, on which we are working, is that with this implementation “local brokers will have access to the information about the assignment of the end investor on trade date, regardless of whether these transactions come from global brokers. They will be able to know precisely who the local custodian of the investor is to perform the settlement process and the information will be centralized to generate statistics,” said the Head of the Commercial Department.
 
DCV and Omgeo continue working on other initiatives that will help depositors with their processes during the post-trade and pre-settlement stages of their transactions.

DCV NOTICIAS